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- MatchMove Pay
MatchMove Pay Revenue, Valuation, Funding & Investors
MatchMove Pay is valued at $600M as of June 2021, a 75.0x multiple on its last reported $8M revenue.
Last MatchMove Pay valuation
$600M
Series D · Jun 2021
Last MatchMove Pay funding round
$100M
Series D · Jun 2021
MatchMove Pay revenue
$8M
Series D · Jun 2021
Key investors in MatchMove Pay
Vickers Venture Partners
Iconic World Limited
NTT DOCOMO Ventures
Credit Saison
Singapura Finance
ZTC Private Markets
About MatchMove Pay
MatchMove Pay is a Singapore-based fintech, founded in 2009, that provides banking-as-a-service infrastructure letting businesses embed digital payments, remittance, lending, insurance, and investment products into their own apps and platforms via APIs. Its offering includes a digital wallet with instantly issued prepaid cards for online and offline spending. The company operates across Singapore, India, Indonesia, Malaysia, the Philippines, and Vietnam, serving multinationals, small and medium businesses, and individual customers.
Founded
2009
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission
Revenue
$8M (Jun 2021)
Valuation
$600M (Jun 2021)
MatchMove Pay Valuation
MatchMove Pay is currently valued at $600M, based on its Series D in June 2021.
The $100M round was led by KFC Ventures.
MatchMove Pay's valuation has grown 2.0x from $295M at its Series A in June 2016 to $600M in June 2021, across 4 priced rounds.
MatchMove Pay valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2021 | Series D | $600M | 75.0x |
| Sep 2020 | Series C | $338M | - |
| Oct 2019 | Series B | $300M | - |
| Jun 2016 | Series A | $295M | 14.8x |
MatchMove Pay Revenue
MatchMove Pay's latest recorded revenue is $8M, as of its Series D in June 2021. At a $600M valuation, that implies a 75.0x revenue multiple.
Revenue moved from $20M in June 2016 to $8M in June 2021, while the revenue multiple moved from 14.8x to 75.0x.
MatchMove Pay revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2021 | $8M | $600M | 75.0x | Series D |
| Jun 2016 | $20M | $295M | 14.8x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
MatchMove Pay Funding History
MatchMove Pay has raised a total of $176M across 9 funding rounds.
MatchMove Pay's first fundraising round was a $2M seed round in October 2013. The most recent completed round was a $100M Series D in June 2021.
MatchMove Pay funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series D | KFC Ventures (lead) | $100M | $600M | MatchMove Pay Pte. Ltd. is a Singapore-based B2B fintech providing embedded finance infrastructure, enabling organizations to integrate digital payments, remittance, lending, insurance, and investments into their platforms and apps via APIs. It operates in markets including Singapore, India, Indonesia, Malaysia, the Philippines, and Vietnam, with plans for expansion into Hong Kong, Bangladesh, and Thailand by end-2021. The company targets MNCs, SMEs, families, and individuals with own-brand, compliant digital banking products. In June 2021, Nityo Infotech announced a US$100 million Series C investment into MatchMove through its arm KFC Ventures, valuing the company at US$500 million pre-money and US$600 million post-money. The deal, approved by the Monetary Authority of Singapore in November 2021, comprised US$20 million cash (disbursed in quarterly tranches tied to conditions like raising additional capital or exit) and US$80 million in-kind (technology services, personnel, synergies, and distribution). MatchMove issued over 66 million Series C shares for approximately US$99.8 million total consideration, making Nityo the largest shareholder and a significant minority stakeholder; Naveen Kumar and Vivek Chadha joined the board. Prior to this, MatchMove had raised over US$83 million across multiple rounds from investors like NTT Venture Capital and Iconic World. The strategic partnership leverages Nityo's global presence in 38 countries to scale MatchMove toward decacorn status in Southeast Asian fintech. |
| Sep 2020 | Series C | Singapura Finance; ZTC Private Markets; Vickers Venture Partners; Iconic World Limited | $21M | $338M | MatchMove Pay is a Singapore-based FinTech company founded in 2009, providing banking technology solutions that enable companies to manage spending, sending, and lending within their apps. It operates a digital wallet supporting online and offline payments via instantly issued prepaid cards, with offices in India, Indonesia, Vietnam, and the Philippines. In September 2020, MatchMove raised $21 million in a funding round from investors including ZTC Private Markets, Singapura Finance, Vickers Venture Partners, NTT Investment Partners, Iconic World, and VV Pentafond, securing a post-money valuation of $338 million. Singapura Finance held a prior minority stake of about 1.6% acquired for $5 million in 2019 at a $295 million pre-money valuation based on current and future sales pipeline. The company has pursued regional expansion, including acquiring up to 20% of peer-to-peer lending platform MoolahSense in 2019 to enhance SME lending capabilities. MatchMove and Singapura Finance reportedly partnered for a bid on a Singapore digital full-bank license, which would allow retail deposit collection and carries a S$1.5 billion capital requirement; results were expected mid-2020 with operations starting mid-2021. Later developments include a US$100 million investment from Nityo Infotech in June 2021 to scale embedded finance services. Singapura Finance's 2019 results showed declining profit unrelated to MatchMove. |
| Oct 2019 | Series B | Singapura Finance (lead); Vickers Venture Partners | $7M | $300M | MatchMove Pay Pte. Ltd. develops end-to-end Banking-as-a-Service (BaaS) wallet solutions with APIs enabling enterprises to offer secure mobile solutions, virtual/physical cards, and services across Spend, Send, and Lend globally. Incorporated in Singapore in 2009, the company targets financial services integration for online businesses on web and mobile platforms. On 15 October 2019, Singapura Finance entered a subscription agreement to invest US$5 million for 587,035 Series Bc Preference Shares, representing a 1.6% stake in the enlarged share capital at a pre-money valuation of US$295 million, implying a post-money valuation of approximately US$300 million. The investment was funded by Singapura Finance's internal resources, with Vickers Venture Partners noted as a prior backer in related rounds. This 2019 tranche formed part of broader funding activity for MatchMove Pay, preceding a larger $21 million round announced in early 2020 co-led by ZTC Private Markets, Singapura Finance, and Vickers Venture Partners (US$5 million each), with additional participation from NTT Investment Partners (US$4 million), V V Pentafond, and Iconic World, at a $338 million post-money valuation. The company had previously raised about $30 million in 2015 led by Credit Saison and backed by GMO Venture Partners and Vickers Venture Partners. |
| Apr 2019 | Series B | NTT DOCOMO Ventures (lead); Vickers Venture Partners | $3M | - | MatchMove Pay Pte. Ltd., headquartered in Singapore and founded in 2009, provides a cloud-based mobile wallet and payment platform serving the Asian region. The platform enables companies to efficiently launch mobile banking wallets and cards from major networks without internal development. NTT DOCOMO Ventures invested in MatchMove Pay in April 2019 through NTT Group’s fund. The investment targets synergy with NTT DATA's payment services across Asian countries including China, Vietnam, Thailand, Malaysia, and India. A subsequent $21 million funding round in September 2020, co-led by ZTC Private Markets, Singapura Finance, and Vickers Venture Partners with $5 million each, included $4 million from NTT Investment Partners and smaller amounts from V V Pentafond and Iconic World, achieving a $338 million post-money valuation. |
| Sep 2018 | Series B | ZTC Private Markets (lead); Vickers Venture Partners; Iconic World Limited; NTT DOCOMO Ventures | $9M | - | - |
| Dec 2017 | Series A | Iconic World Limited (lead) | $19M | - | - |
| Jun 2016 | Series A | Vickers Venture Partners (lead); Iconic World Limited; Credit Saison | $10M | $295M | MatchMove Pay is a Singapore-based financial technology company founded in 2009 that provides banking solutions enabling companies to better manage spending, sending, and lending within their applications. The company had a pre-money valuation of $295 million as of mid-2016, based on an investment transaction reported in that timeframe. MatchMove subsequently raised $21 million in a later funding round (2020) that valued the company at $338 million post-money, with backing from investors including ZTC Private Markets, Singapura Finance, Vickers Partners, NTT Investment Partners, Iconic World, and VV Pentafond. The company attracted multiple venture investors over its growth trajectory, with Vickers Venture Partners being among its early and recurring backers. |
| Nov 2014 | Series A | Credit Saison (lead) | $7M | - | MatchMove Pay, a Singapore-based fintech startup, provides a B2B e-wallet and virtual payment card platform-as-a-service targeting unbanked and uncarded shoppers in Southeast Asia to enable e-commerce participation. The company completed an investment round on approximately November 14, 2014, led by Japan's Credit Saison, with participation from GMO Venture Partners; the round size was $6.7 million. Credit Saison became a key shareholder, appointing Akihiro Matsuda to MatchMove Pay's board alongside representatives from early investor Vickers Venture Capital Group and co-founders Shailesh Naik (CEO) and Hsueh Huah Leow (COO). The investment aimed to accelerate growth in South and East Asia amid rising mobile payments, credit cards, and prepaid solutions, positioning MatchMove Pay at the center of e-commerce expansion in emerging markets. Prior investors included Vickers Venture Capital Group from 2009, and MatchMove Pay had received awards such as Deloitte Technology Fast 500 Asia Pacific No. 25 in 2013 and Red Herring Top 100 Asia in 2012. |
| Oct 2013 | Seed | Vickers Venture Partners (lead); Iconic World Limited | $2M | - | - |
Who has invested in MatchMove Pay?
7 investors have backed MatchMove Pay across its funding rounds, including Vickers Venture Partners, Iconic World Limited, NTT DOCOMO Ventures, Credit Saison, Singapura Finance and ZTC Private Markets.
Lead investors include KFC Ventures, Singapura Finance, NTT DOCOMO Ventures, ZTC Private Markets, Iconic World Limited and 2 other investors.
MatchMove Pay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 6 | Lead | Oct 2013 | ||
| 5 | Lead | Oct 2013 | ||
| 2 | Lead | Oct 2019 | ||
| -- | 2 | Lead | Sep 2018 | |
| 2 | Lead | Sep 2018 | ||
This data is available for Pro users. Sign up to see all 7 MatchMove Pay investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by MatchMove Pay
MatchMove Pay has acquired 1 company to date.
Last acquisition by MatchMove Pay was on May 23rd 2022. MatchMove Pay acquired Shopmatic for $200M.
Latest Acquisitions by MatchMove Pay
| Description | - |
| HQ Country | |
| HQ City | Singapore |
| Deal Date | 23 May 2022 |
| Valuation | $200M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all MatchMove Pay acquisitions and their M&A valuation multiples. Start Free Trial | |
MatchMove Pay Competitors
MatchMove Pay competitors include listed companies like Worldline, Paysafe and Fawry, and private ones like TrueLayer, Zeller and Param.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $27M | - | $700M | 25.9x | ||
| Private | $68M | - | $727M | 10.7x | ||
| Publicly listed | $4.6B | ($5.2B) | $887M | 0.7x | ||
| Publicly listed | $1.7B | $341M | $327M | 1.5x | ||
| Publicly listed | $166M | $73M | $1.2B | 5.2x | ||
| Private | - | - | $200M | - |
MatchMove Pay Public Comps
MatchMove Pay is still privately-owned, but its public comps include SZZT Electronics Co, LINE Pay Taiwan, AvenuesAI, Seshaasai, AMTD Digital, SLR Digital Finance, Abaxx Technologies, PaySign, Hightech Payment Systems and PayPoint.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $148M | ($7M) | 6.9x | 4.5x | (143.3x) | - | |||
| $247M | $24M | - | - | - | - | |||
| $846M | $39M | 0.6x | - | 13.4x | - | |||
| $150M | $41M | 3.9x | 3.7x | 14.4x | 14.2x | |||
| $59M | $18M | 19.5x | - | 62.9x | - | |||
| $224M | $219M | 6.2x | 6.9x | 6.4x | - | |||
| $749K | ($28M) | 600.9x | 136.9x | (16.1x) | (10.0x) | |||
| $82M | $16M | 8.3x | 6.4x | 43.3x | 20.7x | |||
This data is available for Pro users. Sign up to see all MatchMove Pay competitors and their valuation data. Start Free Trial | ||||||||
Common questions about MatchMove Pay
| When was MatchMove Pay founded? | MatchMove Pay was founded in 2009. |
| Where is MatchMove Pay headquartered? | MatchMove Pay is headquartered in Singapore, Singapore. |
| Is MatchMove Pay publicly listed? | No, MatchMove Pay is a private, VC-backed company. |
| What is MatchMove Pay's valuation? | MatchMove Pay was last valued at $600M in its Series D in June 2021. |
| How much funding has MatchMove Pay raised? | MatchMove Pay has raised $176M across 9 funding rounds. |
| What was MatchMove Pay's last funding round? | MatchMove Pay's last funding round was a $100M Series D in June 2021, led by KFC Ventures. |
| Who are MatchMove Pay's investors? | MatchMove Pay's investors include Vickers Venture Partners, Iconic World Limited, Singapura Finance, ZTC Private Markets, NTT DOCOMO Ventures, Credit Saison and KFC Ventures. |
| What is MatchMove Pay's revenue? | MatchMove Pay's latest recorded revenue is $8M (June 2021). |
| What is MatchMove Pay's revenue multiple? | MatchMove Pay's latest valuation implies a 75.0x revenue multiple ($600M valuation on $8M of revenue). |
| Which companies are comparable to MatchMove Pay? | Companies comparable to MatchMove Pay include TrueLayer, Zeller, Worldline, Paysafe, Fawry and Param. |
| How many companies has MatchMove Pay acquired? | MatchMove Pay has acquired 1 company, including Shopmatic. |
| What was the largest acquisition by MatchMove Pay? | The $200M acquisition of Shopmatic in May 2022 is the largest acquisition MatchMove Pay has made to date. |
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